Cell Culture Market worth $51.3 billion | Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), and Sartorius AG (Germany), Corning Incorporated (US)

Cell Culture Market in terms of revenue was estimated to be worth $27.9 billion in 2023 and is poised to reach $51.3 billion by 2028, growing at a CAGR of 12.9% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by the increasing government support and funding for cell-based research, adoption of single-use technologies, emerging cell culture technologies for cell-based vaccines and incidence of infectious diseases. On the other hand, the expensive cell biology research is restraining the growth of this market.

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Key Market Players:

Key players in the cell culture market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), and Sartorius AG (Germany), Corning Incorporated (US).

The cell culture industry is expected to experience strong growth in the near future as advances in biotechnology, stem cell research, and tissue engineering continue to progress. The growth of the cell culture market is driven by increased demand for cell culture-based products and services across various industries. Additionally, the development of new technologies and the emergence of innovative product offerings have further strengthened the market's growth potential. Cell culture technologies are now being used in a variety of industries, including biopharmaceuticals, regenerative medicine, diagnostics, and research and development. The increasing use of cell culture in these industries has enabled the market to grow significantly. In the coming years, the cell culture market is expected to experience further growth as the demand for cell culture-based products and services continues to increase. Moreover, the development of new technologies, such as 3D bioprinting and organ-on-chip systems, is likely to further drive the market's growth.

The equipment segment accounted for the second largest share, by product in the the cell culture market in 2022.

Based on equipment, the cell culture market is segmented into supporting equipment, bioreactors, and storage equipment. Cell culture involves the extensive use of laboratory equipment such as bioreactors, storage equipment, and cell culture-supporting equipment. The growing awareness about the benefits of cell culture-based vaccines (coupled with the growing regulatory approval for these products), increasing production of mAbs, and the introduction of technologically advanced products for high-demand applications (such as cell & gene therapy and regenerative medicine) are the key factors driving the growth of the cell culture equipment market.

The monoclonal antibody production segment accounted for the largest share of the biopharmaceutical production segment in the cell culture market in 2022.

Based on biopharmaceutical production, the cell culture market is categorized into monoclonal antibody production, vaccine production, and other therapeutic protein production. Monoclonal antibodies are multifunctional components of the immune system that fight infections. Most antibodies generated as a natural response are polyclonal, which means they are produced by several B lymphocytes. Monoclonal antibodies, on the contrary, are produced in laboratories and can bind to single specific targets in the body, such as antigens on the surface of certain cancer cells.

The North America region catered the largest share of the cell culture market in 2022.

The growing regulatory approvals for and awareness of cell culture-based vaccines, rising investments in biopharmaceutical R&D coupled with various initiatives from the leading companies, and conferences and symposia that create awareness of the latest cell culture trends are the key factors driving the growth of the cell culture market in North America. Biopharmaceutical companies in North America focus on R&D activities to develop and commercialize novel drugs and therapies. Additionally, various initiatives from leading companies have accelerated growth in North America.

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Cell Culture Market Dynamics:

Drivers:

Government support and funding for cell-based research
Emerging cell culture technologies for cell-based vaccines
Growing popularity of monoclonal antibodies
Adoption of single-use technologies
Growing focus on product development
Growth in cell and gene therapies and stem cell research
Incidence of infectious diseases

Restraints:

High cost of cell biology research
Limitations in producing high-density cell cultures
Opportunities:

Demand for 3D over 2D cell cultures
Growth hotspots in emerging economies

Challenges:

Disposal of plastic consumables

Recent Developments

In February 2022, Thermo Fisher Scientific announced a 15-year strategic collaboration agreement to enable dedicated large-scale manufacturing in the US.

In October 2022, Cytiva acquired Cevec Pharmaceuticals GmbH, which is expected to strengthen Cytiva's leading position in biomanufacturing solutions.

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Cell Culture Market Advantages:

Cell culture technology can be used to develop new medicines and treatments, which can reduce the time and cost of traditional drug development.

It is a more efficient and effective way of producing large quantities of cells for research, clinical and industrial purposes.

It provides a platform for better understanding of cellular processes, which can lead to the development of more effective treatments.

It enables the production of specific cell types, which can be used to study diseases and develop treatments.

It can be used to produce cells that would be difficult to obtain through traditional means.

It can reduce the need for animals in research and development.

It can be used to produce stem cells for research and therapeutic purposes.

It is a cost-effective way of producing cells for research and commercial applications.

Cell Culture Market - Report Highlights:

The new version of the report includes ranges/scenarios, pricing analysis, technology analysis, patent analysis, trends and disruptions impacting customers, and Porter's five forces analysis.

Market size is updated for the base year 2022 and forecasted from 2023 to 2028 by studying the impact of the COVID-19 outbreak and recession on the overall cell culture industry.

In the earlier version of the report, 20 companies were profiled. In the updated version, a total of 25 companies have been profiled.

The new edition of the report provides updated financial information for the financial year ending March 31, 2022 (depending on availability) for listed companies in a graphical representation in the company profiles section. This will help analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.

Key market strategies/right to win, market share analysis, and competitive leadership mapping have been updated in the competitive landscape section of the report.

The competitive leadership mapping section is an output of a comprehensive study of the key vendors offering cell culture products. The top 25 vendors were shortlisted from a list of 50+ vendors. These vendors were evaluated based on their market share/ranking and product footprint.

The new version of the report includes the startup/SME company evaluation quadrant for ten companies operating in the cell culture market. This updated section is an output of a comprehensive study of the key startup vendors offering cell culture products. The top 10 vendors were shortlisted from a list of 50+ vendors. These vendors were evaluated based on business strategy excellence and the strength of the product portfolio.

The report includes the market share analysis for 2022 and the revenue share analysis of key market players from 2020 to 2023. It also includes competitive benchmarking and growth strategies adopted.

The new edition of the report includes market developments from 2020 to 2023.

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This release was published on openPR.